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5 Tricks to Master Investment Bank Interview Questions

If you are applying for a job as an investment banker

, the interview process will be the major determining factor as to whether or not you get the job. Before going in for an interview, it pays to be prepared for the potential investment banking interview questions. The questions you will be asked will fit into one of two categories: fit questions and technical knowledge. Here are 5 tricks that will help you master investment banking interview questions in both categories.

Be calm and think before answering

The biggest part of the interview process will be answering technical questions. Some of the questions will determine your ability to calculate basic formulas such as valuation and bond yield. Then you will be asked a series of brain teaser questions that are designed so that you will never know the answer to the question. Most interviewees will panic when asked these types of questions. The company is evaluating how you can respond to a situation in which you do not know the answer or solution. The first thing you need to do is to remain calm and think of ways to calculate the answer. If you are asked the number of roundabouts on the road systems in the UK, you need to formulate a way to get the answer. Start with the population of the UK, and then assume there is 100 feet of road space for every member of the population. Then assume there is a roundabout every 3 kilometers and you have a rough answer to the question.

Know key market indices

Investment bankers are expected to have a solid understanding of all the market indices. You can expect to receive quite a few questions in this area so be prepared. Some question might include what was the closing value of the DOW yesterday, what is the interbank interest rate, what is the price of gold, and what is the value of the FTSE and Hang Seng. An investment banker interfaces with almost all international indices and must know how they impact investments. If you are asked these questions, be prepared to answer but also supplement it with knowledge of the one, three and five year averages of the indices.

Where do you want to be in five years?

You will be asked several "fit" questions to determine whether your character and personality will be a good fit in the corporate environment. All candidates will be asked the same fit questions. Your answers will help in distinguishing you from the hundreds of others that are interviewing for the same position. Be realistic in answering a question like this. Do not say that you plan on being a VP in five years which would mean that you would need to be promoted six times in five years to reach the VP level. This is an unrealistic answer. Instead focus your answer on where you could be realistically thus showing your interviewer you are not unrealistically ambitious.

Describe a recent failure in your career

This is another question in the "fit" category. The company is looking for a situation that was a failure and what you did, if anything, to resolve the failure. You should also be able to detail what you learned from the failure and how you applied that to another issue that resulted in a success.

Do you have any questions?

You will definitely be asked this question at the end of your interview. If you want to fail your interview, do not ask any questions. This is your chance to distinguish yourself from the herd of applicants for the vacant position. Your response to this question will the last thing the interviewer remembers about you so make it count.

There will be two types of questions you will be asked on your interview. If you follow these tips, you will be able to ace your interview and be one step closer to being hired as an investment banker.

5 Tricks to Master Investment Bank Interview Questions

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5 Tricks to Master Investment Bank Interview Questions